CFL Pre assessment Exam Questions with
100% Correct Answers.
Employees decide when to pay their payroll taxes? True or False
FALSE
Federal income taxes are used to pay the interest on the national debt? True or False
TRUE
The medicare tax rate is 1.45% of gross pay? True or False
TRUE
Employees use form W-4 to prove that they are eligible to work in the United states? True
or false
FALSE
What is the Social Security tax rate?
6.20%
Employers use which form to compute the amount of federal income tax to withhold?
Form W-4
Food servers do not need to report tips as taxable income? True or False
FALSE
The wage and tax statement is also known as what?
Form W-2
What of the following is true?
A. only tips paid in cash are taxable
B. Only tip income reported on form w-2 is taxable
c. tip income is not taxable
d. All tip income is taxable
100% Correct Answers.
Employees decide when to pay their payroll taxes? True or False
FALSE
Federal income taxes are used to pay the interest on the national debt? True or False
TRUE
The medicare tax rate is 1.45% of gross pay? True or False
TRUE
Employees use form W-4 to prove that they are eligible to work in the United states? True
or false
FALSE
What is the Social Security tax rate?
6.20%
Employers use which form to compute the amount of federal income tax to withhold?
Form W-4
Food servers do not need to report tips as taxable income? True or False
FALSE
The wage and tax statement is also known as what?
Form W-2
What of the following is true?
A. only tips paid in cash are taxable
B. Only tip income reported on form w-2 is taxable
c. tip income is not taxable
d. All tip income is taxable